ChoiceOne to open branch in downtown Grand Rapids

A conceptual image for the ChoiceOne Bank remodeling by Integrated Architecture of Grand Rapids.Courtesy Rendering

ChoiceOne Bank plans to open a branch on the south end of downtown Grand Rapids next year.

The Sparta-based ChoiceOne Bank closed last week on the purchase of a building at 330 Market Ave., nearby Founders Brewing Co. The bank plans to renovate the site into a full-service bank branch that should open by late next summer, President and CEO Kelly Potes said.

The bank, which primarily serves small, rural markets, first ventured into downtown Grand Rapids in 2016 with the opening of a lending office to offer commercial loans and residential mortgages.

Parent company ChoiceOne Financial Services Inc. in October reported higher earnings of $1.7 million, or 50 cents per share, for the third quarter. Net income for the first nine months of the year totaled $4.8 million, or $1.39 per share, versus $4.4 million, or $1.28 per share, through three quarter of 2016.